Sensex, Nifty Tumble Amid Global Selloff
(RTTNews) - Indian shares fell sharply on Friday, mirroring weak global cues as Silicon Valley Bank's surprise decision to sell much of its bond portfolio at a loss prompted concerns about the value of U.S. banks' bond portfolios.
The benchmark S&P/BSE Sensex plunged 818 points, or 1.4 percent, to 58,988 in early trade, while the broader NSE Nifty index was down 229 points, or 1.3 percent, at 17,360.
Adani Enterprises slumped 4 percent to extend losses from the previous session.
Apollo Hospitals Enterprise, Larsen & Toubro, HDFC Bank and HDFC lost 2-3 percent.
Reliance Industries declined 1.5 percent. Reliance Consumer Products, the FMCG arm of Reliance Retail Ventures, has relaunched the iconic beverage brand Campa that it had acquired in August 2022.
Bank of Baroda fell more than 2 percent on news it would divest up to 49 percent stake in its arm BOB Financial Solutions.
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